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Quad Candle System

  • #2,301
  • Jul 3, 2018 7:53pm Jul 3, 2018 7:53pm
Quoting Masterrmind
EURCAD [D1] - Update SL has now been moved to BE. {image} Recall previous post mentioned the MML Grid has been reset lower suggesting that upper targets should be monitored. BE is to protect the trade under these circumstances where some form of a pullback is expected closer to the 8/8 MML level. ps. Expected pullback does not mean that it will occur. Masterrmind.............
EURCAD [D1; Update]

Trade 1: Having moved SL to BE the market has now retraced and taken out my stop.

Result: +US$ 1.45 (however Swap was -2.20 so the end result is a minor loss on this first entry into the EURCAD pair).
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 9 KB

The rest of the setup remains intact with 1 current position in play and several pending Buy Stops.

Masterrmind.............
Master your Mind then Master your Trades
  • #2,302
  • Jul 17, 2018 3:19pm Jul 17, 2018 3:19pm
Hello MasterMind,
Is there a Murrey Math for the MT5 Trading Platform?

Thank you Kindly..
Jeff
Happily Married to MY College Sweet Heart!
  • #2,303
  • Jul 18, 2018 1:35am Jul 18, 2018 1:35am
Quoting Jeff59FX
Hello MasterMind, Is there a Murrey Math for the MT5 Trading Platform? Thank you Kindly.. Jeff
There is an MT5 version of the MML indicator in very basic format.

I'll upload that one to Post 1 later.

The version I use is not ready to be uploaded as I'm adding in multiple functionality that also coincides with the MT5 EA currently in progress.

The MT5 EA is actually meant for the MTTTM strategy to assist the trader in making fewer errors on multiple trade entries (pending orders etc).

The D1 Quad Candle System does not really require an EA however, I have added this functionality into the MTTTM EA since both methods make use of the MML Grid.

Note 1: This MT5 EA may not be made available though but that will depend on future participation.
Note 2: The MT5 indicator I will upload a little later.

Masterrmind..............
Master your Mind then Master your Trades
  • #2,304
  • Jul 18, 2018 7:30am Jul 18, 2018 7:30am
Quoting Masterrmind
{quote} EURCAD [D1; Update] Trade 1: Having moved SL to BE the market has now retraced and taken out my stop. Result: +US$ 1.45 (however Swap was -2.20 so the end result is a minor loss on this first entry into the EURCAD pair). {image} The rest of the setup remains intact with 1 current position in play and several pending Buy Stops. Masterrmind.............
MM 16 the pipe seems to be a bit of a pain ?
Attached Image (click to enlarge)
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  • #2,305
  • Jul 18, 2018 11:18am Jul 18, 2018 11:18am
Quoting Masterrmind
{quote} There is an MT5 version of the MML indicator in very basic format. I'll upload that one to Post 1 later. The version I use is not ready to be uploaded as I'm adding in multiple functionality that also coincides with the MT5 EA currently in progress. The MT5 EA is actually meant for the MTTTM strategy to assist the trader in making fewer errors on multiple trade entries (pending orders etc). The D1 Quad Candle System does not really require an EA however, I have added this functionality into the MTTTM EA since both methods make use of the...
Thank you Mastermind for all you do sounds very interesting and I'm looking forward 2 it
Happily Married to MY College Sweet Heart!
  • #2,306
  • Jul 18, 2018 8:58pm Jul 18, 2018 8:58pm
Quoting OAPDave
{quote} MM 16 the pipe seems to be a bit of a pain ? {image}
Yes a pain indeed !

PA remaining within the pipe much like a longer term consolidation phase.
Not so great for a longer term setup that seeks huge pip gain but perhaps favorable to those trading 'relatively' smaller ranges.

The EURCAD starts to make a run for the highs and then quickly gets belted back down again.

You'll notice from my MT5 account that I have been exceedingly patient with this pair.

However, at some point I may need to take some profit (if offered) and look elsewhere for a potentially more productive trade.

Time and PA usually form a big part of my decision to stay in a trade or get out.

Not to mention that the spread is negative on both the long sides of EURCAD and GBPUSD.

The GBPUSD made another dive for the 1.30 handle, but was met with some timid bullish demand.

The fundamentals and the geopolitical inputs are weighing in heavily so it simply can't get much traction up the chart.

One option on GBPUSD is to take some offered profit and monitor the BuyStop setup overtime whilst looking elsewhere.

In any case I'll be searching for a few other pairs of interest and posting charts here soon.

Masterrmind.............
Master your Mind then Master your Trades
  • #2,307
  • Jul 19, 2018 12:07am Jul 19, 2018 12:07am
Quoting Jeff59FX
{quote} Thank you Mastermind for all you do sounds very interesting and I'm looking forward 2 it
Post 1 updated.

Masterrmind............
Master your Mind then Master your Trades
  • #2,308
  • Jul 19, 2018 12:57am Jul 19, 2018 12:57am
Current D1 Setups for EURCAD and GBPUSD

EURCAD [D1: MT5]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 34 KB

GBPUSD [D1: MT5]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 34 KB

It should not be about looking for excuses to get out of a setup.

Rather a retreat out of a setup should be based on several key factors such as PA, Chart structure, MML Grid alignment and S&R key levels.

The fundamentals should not be ignored here however, somewhat of an open mind needs to be applied as economic data flow and geo political flow can appear to change ones bias on pair direction rather quickly.

Stick to the original plan based on the initial setup and if the bulk supply of factors highlight the need to exit the setup then do so.

Risk allocation should have already been accounted for from the very beginning so play the setup for as long as possible.

Masterrmind............
Master your Mind then Master your Trades
  • #2,309
  • Jul 19, 2018 4:31am Jul 19, 2018 4:31am
GBPUSD [D1 Chart]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 26 KB

Price is now flirting with the 1.30 handle !

Weak retail sales suggest a less likely rate increase by the BOE.

On the positive side I do not see the cable falling through the floor, simply a great level for traders to start buying up the pound.

In my opinion I see the current downward pressure on the cable as short-lived.

Masterrmind.............
Master your Mind then Master your Trades
  • #2,310
  • Edited 4:50am Jul 19, 2018 4:34am | Edited 4:50am
MM16 & MM256, Only problem swap not good for investing in a Buy long term ?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GU 256.jpg Size: 429 KB
  • #2,311
  • Jul 19, 2018 4:49am Jul 19, 2018 4:49am
Quoting OAPDave
MM16 & MM256 {image} {image}
It hasn't helped in being long the cable with the recent resignations from May's office surrounding the Brexit legislation.

However on a positive note it appears that May has pushed through without a leadership challenge.

All these issues are weighing quite a bit on a steady push to lower levels.

Your charts look great for showing possible support however, the lower chart is a concern for the bulls !

Masterrmind............
Master your Mind then Master your Trades
  • #2,312
  • Jul 19, 2018 6:06am Jul 19, 2018 6:06am
Quoting Masterrmind
{quote} It hasn't helped in being long the cable with the recent resignations from May's office surrounding the Brexit legislation. However on a positive note it appears that May has pushed through without a leadership challenge. All these issues are weighing quite a bit on a steady push to lower levels. Your charts look great for showing possible support however, the lower chart is a concern for the bulls ! Masterrmind............
Trend lines added
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU 16.jpg Size: 511 KB
Click to Enlarge Name: GU 256.jpg Size: 539 KB
  • #2,313
  • Jul 19, 2018 6:33am Jul 19, 2018 6:33am
Quoting OAPDave
{quote} Trend lines added {image} {image}
Trendlines can be mighty helpful.

But what about this quoted on 19 July 2018 ?
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Attached Image (click to enlarge)
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Analysts are very often wrong even in the case of Banks but one must be open to all analysis and the flow of suggestions.

Masterrmind.............
Master your Mind then Master your Trades
  • #2,314
  • Jul 19, 2018 6:41am Jul 19, 2018 6:41am
Quoting Masterrmind
{quote} Trendlines can be mighty helpful. But what about this quoted on 19 July 2018 ? {image} Analysts are very often wrong even in the case of Banks but one must be open to all analysis and the flow of suggestions. Masterrmind.............
Yep they are all Murrey subscribers, hahah
  • #2,315
  • Jul 19, 2018 6:57am Jul 19, 2018 6:57am
Quoting OAPDave
{quote} Yep they are all Murrey subscribers, hahah
Ha ha ha.

GBPUSD [Monthly Chart]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 34 KB

Masterrmind.............
Master your Mind then Master your Trades
  • #2,316
  • Jul 19, 2018 7:03am Jul 19, 2018 7:03am
Quoting Masterrmind
{quote} Ha ha ha. GBPUSD [Monthly Chart] {image} Masterrmind.............
GBPUSD [Monthly Fib]
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 22 KB

Masterrmind.............
Master your Mind then Master your Trades
  • #2,317
  • Jul 19, 2018 7:04am Jul 19, 2018 7:04am
Quoting Masterrmind
{quote} Trendlines can be mighty helpful. But what about this quoted on 19 July 2018 ? {image} {image} Analysts are very often wrong even in the case of Banks but one must be open to all analysis and the flow of suggestions. Masterrmind.............
Thats a neat chart showing their guesstimate levels, here are 2 more ? MM 256, Now that Monthly that you have just shown is very interesting ?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EG 256.jpg Size: 557 KB
Click to Enlarge Name: EU 256.jpg Size: 544 KB
  • #2,318
  • Jul 19, 2018 7:09am Jul 19, 2018 7:09am
Quoting Masterrmind
{quote} GBPUSD [Monthly Fib] {image} Masterrmind.............
Nice short from the 78.6 Fib !!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 22 KB

Fantasy land !

Masterrmind.............
Master your Mind then Master your Trades
  • #2,319
  • Jul 19, 2018 7:17am Jul 19, 2018 7:17am
GBPUSD [M15 Chart]

A little intraday !
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 30 KB

Short it down to 1.29400 if this current support zone lets go.
SL above 1.30 handle.
TP as stated.

Masterrmind.............
Master your Mind then Master your Trades
  • #2,320
  • Jul 19, 2018 7:21am Jul 19, 2018 7:21am
Quoting Masterrmind
GBPUSD [M15 Chart] A little intraday ! {image} Short it down to 1.29400. Masterrmind.............
Your new personal Murrey Template ?
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